Question: Both alternate CPU usage among computations. Multiprogramming switches execution among the different programs whenever a running program enters an I / O - bound phase

Both alternate CPU usage among computations.
Multiprogramming switches execution among the different programs whenever a running program enters an I/O-bound phase where little CPU time is needed, other programs can resume and utilize the CPU in the meantime.
Time-sharing is an extension of multiprogramming. By giving each computation a fixed time slice, time-sharing guarantees that each computation gets a turn at the CPU in a timely manner.

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